Construction - Renovation Financing

Construction financing is usually floating interest rate only for a short term period of usually less than 2 years depending on the product type. Personal guarantees are usually required on smaller projects, while larger deals can often be placed with limited personal guarantees. Once the project reaches some form of occupancy, permanent financing can be arranged where the rate can be locked. Cornerstone Commercial Mortgage arranges construction financing on all property types for new construction, renovation, acquisition and land development projects.